44/2001 and to determine the consequences of a stay of proceedings before the foreign court. The bankruptcy petition formed the basis for the eventual management takeover of the smelter.
Represented the interests of a Cyprus respondent in ICAC (International Commercial Arbitration Court) arbitration proceedings in Moscow in a commercial dispute.
The success in handling this matter assisted in the eventual (successful) global settlement with the other side.
As part of the proceedings applied for the equitable winding up of Cyprus holding company. Acted as counsel in a claim by a minority shareholder of the holding company of a major Russian gas (energy) company for abuse of minority rights.
Obtained a hotly contested interlocutory injunction against the Respondent holding company on an application of the minority shareholder to liquidate the holding company. whereby damages exceeding US$600.000.000 and order for the tracing of assets were sought in connection with a stock market fraud allegedly committed by the Defendants in the United States.
The case is the first case in which the Supreme Court of Cyprus recognised the jurisdiction and power of the Cypriot Courts to issue worldwide mareva injunctions as well as interlocutory orders for the disclosure of assets.
Obtained ex-parte pre-trial disclosure against 3Acted as instructing counsel and legal advisors on a US$ 2.1 billion suit based on the Racketeering Influenced Corrupt Organisations Act against a Russian aluminium company and particular individuals concerning the illegal takeover of an aluminium plant and related assets in Russia.
Acted for one of two shareholders in a Cyprus holding company in court proceedings filed in Cyprus for the protection of the Plaintiff’s rights and the recovery of damages in connection with the alienation of the company’s assets consisting of shares in a leading Russian company.
As part of the proceedings obtained mareva injunctions, declarations of legal rights separate and in addition to proceedings for damages and orders for the rectification of corporate registers. Acted as counsel Cyprus and instructing counsel in UK Courts in strongly contested litigation between shareholders of a Russian cement entity.
One of the first cases before the Cypriot Courts in which the court was invited to interpret and apply the lis alibi pendens provisions of Council Regulation (EC) No. Acted as instructing counsel and handled an SCC arbitration by a Cyprus entity against a Russian aluminium smelter for breach of long term supply contracts following an illegal takeover. Appeared before the Court in bankruptcy proceedings in relation to a major aluminium smelters in the region representing a Cyprus creditor.
Acting in Cyprus in a landmark case (series of legal proceedings) for JSC BTA Bank of Kazakhstan before the Cypriot courts in connection with the recovery of fraudulently misappropriated funds exceeding US$ 4 billion.
Amongst others and in addition to Mareva Freezing Injunctions, obtained a number of rarely issued ex parte interim remedies and other orders in support of and in the context of proceedings pending before the London High Court and the District Courts of Cyprus (including recognition of foreign world-wide Mareva injunctions and orders appointing receivers, freezing injunctions in relation to assets held in the name of parties other than the defendants, Norwich Pharmacal orders (pre-trial disclosure to enable the Plaintiffs to find out how the fraud was committed and by whom) and Anton-Piller relief (for disclosure and delivery of documents and information), orders to intervene in proceedings filed by other parties in order to secure the Bank’s interests, contempt proceedings for breach of court orders etc.).
The proceedings are highly contested, involve a number of different court proceedings concurrently pending before the courts with novel procedures and have successfully (for the protection and interests of the Bank) utilized EU regulations regarding jurisdiction and assistance of the courts of member states and the recognition and enforcement of their judgements in civil and commercial matters.
Acting in Cyprus for a large Russian corporation in connection with the recovery of fraudulently misappropriated funds exceeding US$ 2 billion by former management.